The insurtech organization InsuranceDekho received a major funding round that provided $70 million as capital from headquarters in Gurugram. The funding stems from a partnership between Beams Fintech Fund together with Mitsubishi UFJ Financial Group (MUFG) of Japan and a second funding organization managed by BNP Paribas Cardif through its insurtech fund administered by Eurazeo. This important investment during a crucial phase allows the company to establish itself as a leader across the competitive insurance market for substantial growth.
The company InsuranceDekho began operations in 2017 under the leadership of Ankit Agrawal to enable customers to browse and buy motor insurance and supplemental policies of health insurance and travel insurance and pet insurance. InsuranceDekho operates as a direct platform for customers choosing from one of 50 insurance companies they directly work with or through collaborating insurance companies. InsuranceDekho delivers services regarding investment plans such as ULIPs and child plans along with fixed deposits and retirement plans through its business operations.
Growth and Expansion Plans
InsuranceDekho received its most recent capital contribution from MUFG following its previous $60 million funding deal with the same institution during October 2023. InsuranceDekho utilizes the new investment capital to become the leading digital insurance destination for India while innovating customer-oriented solutions. Through recent fund allocation we plan to develop our customer base and enhance technological services and create market presence as per Agrawal’s plans.
The company achieved major development to reach beyond 10.2 million content customers over the entire Indian territory. The company establishes new insurance policies at a rate of 21 each minute throughout 99% of postal zones throughout India. InsuranceDekho depends on 220,000 partners who deliver 720 insurance products that serve four different business categories including motor insurance and health insurance along with life insurance and corporate insurance.
Impressive Revenue Growth
Similar to InsuranceDekho, its revenues saw a huge jump of seven times from Rs 96.5 crore in FY23 to Rs 743.6 crore in FY24. In the previous fiscal year, the company delivered a profit of Rs 85.71 crore through its streamlined business operations.
Last year in the year 2025, the company tied up its second investment strategy at Rs 200 crore to an upcoming listed NBFC focusing on used commercial vehicle financing plans, likely to be listed in June 2025.
Overall, this investment ($70M) from Beams Fintech Fund is indicative of the growing industry faith in the opportunity to reshape India’s insurance industry with the help of InsuranceDekho. The company has a great potential to win the switch in the field of insurance by which its strategic investments and technological orientation would meet the needs of the customers and increase its market share in the insurance technology market. With the growing evolution of the industry, being dedicated to innovation is a must for InsuranceDekho as it will play the most important role in keeping it in the league.
